Nissan Chairman Carlos Ghosn, has been arrested in Japan over claims of corruption and misconduct.

Carlos Ghosn who was accused of “significant acts of misconduct”, including under-reporting his pay package and personal use of company assets, will be sacked from the Japanese firm after a board meeting on Thursday, its chief executive said.

While Nissan was unable to give further details on the offences, however it was gathered that Japanese prosecutors are yet to comment on Mr Ghosn’s arrest.

“I feel despair, indignation and resentment.” said Nissan chief executive Hiroto Saikawa at a news conference. “As the details are disclosed I believe that people will feel the same way as I feel today.”

Nissan Chairman Carlos Ghosn, has reportedly been under internal investigation for several months, prompted by a whistleblower. Japanese media reports which have not been confirmed, alleged that he under-reported an amount totalling 5bn yen (£34m) over a five-year period from 2011.